Podcasts are fast becoming the best place to engage with consumers. According to Edison Research, the vast majority of listeners are more likely to consider the brand advertised on podcasts over other forms of media.
Top-earning podcasters like Chapo Trap House ($125,000/pcm) and Last Podcast On The Left ($58,000/pcm) prove that there’s a profitable market worth investing. Whether you’re a business, brand, or agency, spread your message further and sponsor podcasts.
Why You Should Sponsor Podcasts
The way people consume media is changing. Investing money into Facebook, Twitter, Instagram, and YouTube ads no longer have a meaningful impact.
On average, people on Facebook engage for 60-90 seconds, YouTube it’s 4 minutes, but with podcasts it’s hours! A massive 75% of listeners take action on commercial messages in podcasts, which means you’ve got more time to get your message across.
Most businesses see this as an opportunity to start their own podcast, but it doesn’t come with the added benefits of tapping into an already massively popular podcast...
- No need to invest hours creating and managing your own podcast.
- Comes with a guaranteed pre-existing audience.
- Clear expectations for conversion rates and end-results.
Average Podcast Advertising Rates
TV, radio, and social networks have ways to measure and calculate the success of adverts, but this can sometimes feel like you’re throwing money into a wishing well (especially on places like Facebook and Twitter).
Spending money on podcast ads has clear end-results, so you know exactly what you’re getting. The industry average rates for podcast ads are calculated on Cost Per Mile (CPM) or Cost Per 1,000 listeners. These are:
- $15 for a 10-second ad CPM.
- $18 for a 30-second ad CPM.
- $25 for a 60-second ad CPM.
Work out how much it will cost to run a podcast ad campaign by using AdvertiseCast’s pricing calculator.
How Sponsoring Podcasts Works
Sponsorships are a way for you to get your message in front of the right people. For a long time the best places where TV, radio, and even print (newspapers, magazines, billboards, etc).
Each medium is different. For example, TV ads are visual and won’t translate well to audio only platforms like podcasts. Podcast sponsorships usually work as either one-off ads, bulk ads (time span/number of episodes), or on a regular on-going basis.
Type of ads vary, but they’re usually either:
- Baked in: Ads that are part of the podcast, often read live by the host (listeners hear the same ads).
- Dynamic: Pre-recorded ads injected at the start/end of the podcast (listeners won’t hear the same ads).
Levels of listener engagement depend on where you place your ads. Type of ad positioning are:
- Pre-roll: Short 15 second at the start of the show before the podcast officially starts.
- Mid-roll: Middle of the podcast, usually last a minute, breaking up the content.
- Post-roll: End of the show, typically a short call to action.
Typically, when you sponsor podcasts you go after mid-roll ads due to higher levels of engagement. Listeners are more likely to take action or subconsciously remember ads as opposed to those played at the start or end of shows.
Tracking Podcast Ad Results
Blindly throwing your money on ads doesn’t mean you’re going to be successful, but there are ways to monitor and measure how effective they are on listeners.
- Clicks: Unique links to track click-throughs, e.g. https://go.pod.co/invite.
- Codes: Discount codes offering a percentage off on checkout (ideal for businesses selling goods/services).
- Dedicated Page: Custom built pages targetted at listeners to drive engagement, similar to an A/B test.
Tracking clicks, codes, and traffic on your website are all good ways you can justify to your boss (or yourself) that they’re working and worth investing time and energy. If not, then you need to find the right podcasts to sponsor.
5 Things to Look for in a Podcast
Sponsoring podcasts are an investment. You need to make sure your time and money are well spent, so here are the top 5 things to look out for:
5. Relevancy to Your Business
You want a podcast that will convert listeners into customers. For example, there’s no point in advertising children’s toys or death insurance to young professionals.
Keep it relevant to your audience. Find podcasts that align perfectly with your company’s brand. Look at the type of content they’re publishing and ask yourself:
Would my customers listen to this podcast?
4. Good Quality Content
Podcasts act as the spokesperson for your business, so their content needs to be spot on! Even if their downloads or engagement is high, rubbish content makes you look bad and could potentially damage your business’ image.
If shows are controversial, touch on sensitive topics, or even include bad language, then that might send the wrong message. Take Lance Armstrong's cycling team. For those not familiar, Armstrong was a household name, but was embroiled in a drugs scandal which led to being dropped by three sponsors.
As a rule of thumb: Make sure when you sponsor podcasts that their content is good, on brand, and safe for your business.
3. Listener Engagement
Whether or not listeners are more likely to take action is one of the biggest deciding factors in what you should look for in a podcast. Look to see if listeners are commenting, sharing, and generally keeping engaged with the podcast.
Are there reviews? What’s their total social reach? If you’re investing in a podcast, especially over the long run, then you need to know you’re reaching new people as time goes on. Older listeners are not as likely to take action, so look to the podcast’s health over the past year.
2. Other/Past Podcast Sponsors
As a sponsor, you want to know your money is going to get the best results. Look to others to see what they’re doing and if it’s worked for them. Take XS Manchester, a radio station from the UK. From their sponsors, you get a rough idea of who their ideal listeners are:
- Delux (paint).
- Wilko (DIY).
- Wickes (DIY).
- INFINITI (buy/sell cars).
- Robins & Day (buy/sell cars).
- RideSafe BackSafe (motorbike training).
- SorryMate (motorbike insurance).
Listeners with plenty of disposable income for vehicles and home DIY projects are the prime target of these sponsors, which is enough proof if your business sells similar products or services. Just like the old saying goes…
The proof is in the pudding! 🍮
1. Podcast Reviews
Reviews give you insight into your intended audience and what they’re thinking. Positive reviews mean good engagement and growth, whereas negative reviews is usually a sign that it’s not in the best of health and wouldn’t be a wise investment.
Directories like iTunes, Spotify, and Stitcher all offer their own reviews, so you can get an average and the general feel for how well podcasts you're interested in are doing.
Sponsor Podcasts with the Help of Podcast.co
Finding podcasts to sponsor is easy, but finding the right ones for your business can be challenging, so let us lend a hand! At Podcast.co we connect you with the best podcasts suited for your company. Let us do the hard work so you can sponsor podcasts without lifting a finger 👇👇👇